Tag: property values

Not Property Tax Rate, But Property Tax VALUE in GR, MI

We know you’re probably sulking just a bit over the fact that you just might have to pay a little extra in property taxes in Grand Rapids, Michigan, and we feel your pain. But take note — there’s a silver lining at the end of this tunnel! Rain clouds, be gone, because we’re seeing some sunshine today in our city of Grand Rapids, Michigan. You just have to look at the situation in a different light.

Think Home Selling When It Comes to Property Tax Valueproperty tax value home improvement

Because the property value all across the city’s starting to increase, which is a truly welcome development given the fact that the past several years saw a major decline (bad for the real estate market as a whole), yes, we’ll see just about every Grand Rapids homeowner pay an extra $9.17 in city property taxes. Nothing to scream at, and we can deal with it, but the bonus is this — the market will be ripe for a home seller’s advantage, meaning big bucks all because the assessed value says so.

So the property tax rate might go down just a tad, but overall because the property tax value is going up, we can expect for our homes to be of more value, our land will be more of a hot commodity than ever before. We can sell our homes for a bit more. The comparables will testify to that. Neighborhoods will flourish. Home improvements will make their way to additionally increase the value.

It Was a Long Time Coming

Grand Rapids, Michigan, saw the slump in a big way with respect to the real estate market. But it’s now time for a change. It’s time for growth. Success. An increase in home sales and happy faces. And it’s definitely worth it to pay close to just a measly ten bucks to make that happen.

Translating Taxable Value of a Grand Rapids, MI, Home

No, you don’t have to be a genius mathematician to figure this out (that’s what this website is for, actually). Truthfully, Grand Rapids, MI, property values isn’t that hard (but certainly plenty out there make it a lot more complex than it should be!). In regards to the latest news about property values for, for instance, your Grand Rapids, MI, home, you’d think that the lower millage rate we heard about would actually be maybe even a slight benefit to homeowners. But it’s not. Want to know why?

Taxable Value Does Change When It Comes to PropertyGrand Rapids, MI, home sunshine

Case in point: if property values remained the same year after year, lower millage rates would definitely see a decrease in city property taxes. For sure. About 1.4 cents, to be exact. But that’s not the case here in the everyday Grand Rapids, MI, home, for instance.

Property values change every year one way or another. This can take a lower millage rate and turn the taxable value into something completely different. As it stands right now, with this lower millage rate proposed for every Grand Rapids, MI, home, taxable value per home having seen an increase from $45,138 to $46,141 in this past year won’t really drop the property taxes at all.

It will, in fact, raise it just a bit for every single Grand Rapids, MI, home.

Think of It This Way: Property Values Go Up, Tax Rates Go Down, But Accumulate Much More

It’s basic math. But there’s a balance, and people have to be on top of the changes like psychics on a hotline. It’s about prediction. Weather patterns. Knowing when the storm’s about to hit. The real estate market with respect to property values is a tricky little industry, but if you know what’s going to happen, when it’s going to happen, and what will happen when it happens, we can safely say you’ll be prepared!